Thompson has been the president of eBay since 2008, during which time the company doubled its user base to in excess of 100m users.

“Scott brings to Yahoo a proven record of building on a solid foundation of existing assets and resources to reignite innovation and drive growth, precisely the formula we need at Yahoo,” Yahoo chairman Roy Bostock stated.

“His deep understanding of online businesses combined with his team building and operational capabilities will restore the energy, focus, and momentum necessary to grow the core business and deliver increased value for our shareholders.

“The search committee and the entire Board concluded that he is the right leader to return the core business to a path of robust growth and industry-leading innovation.”

MCV is the leading trade news and community site for all professionals working within the UK and international video games market. It reaches everyone from store manager to CEO, covering the entire industry. MCV is published by NewBay Media, which specialises in entertainment, leisure and technology markets.